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jointly-owned enterprise, the response of corporate law turns in part on the unique
legal features that characterize the corporate form.
Taken together, the latter seven chapters of our book cover nearly all of the
imp

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form of an individual or family (as in Italy), another firm, or a closely coordinated
group of other firms (as in Germany), 85 or the state (as in France).
The types of entities by or through which shares are held also

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between, on the one hand, initiation and execution of business decisions, which is the
province of hired officers, and on the other hand the monitoring and ratification of
decisions, and the hiring of the officers them

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formssuch as the corporationwhich share these three attributes. However, we
should make clear that legal personality in the lawyers sense is not in itself an
attribute that is a necessary precondition for the existence

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There are also important rules of corporate law that are mandatory. 60 Large
German corporations, for example, have no alternative but to give half of their
supervisory board seats to representatives of their employees

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to replicate these results, 93 and the conclusions to be drawn from them are much
debated. 94
There can be little doubt, however, that the reverse is (also?) true: the structure
of corporate law in any given country is

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wake of the Enron series of corporate scandalsextended federal law to further
aspects of corporate governance previously left to the states.
This is principally a book about the structure and functions of corporate law

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SECTION 260B SHAREHOLDER APPROVAL
260B(1) Approval by companys own shareholders. Shareholder approval for financial assistance by a company must be
given by:
(a) a special resolution passed at a general meeting of the compa

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Division 1 Reductions in share capital not otherwise authorised by law SECTION 256B COMPANY MAY MAKE
REDUCTION NOT OTHERWISE AUTHORISED
256B(1) A company may reduce its share capital in a way that is not otherwise authorise

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SECTION 114 MINIMUM OF 1 MEMBER
114 A company needs to have at least 1 member.
SECTION 115 RESTRICTIONS ON SIZE OF PARTNERSHIPS AND ASSOCIATIONS
115(1) [Restrictions] A person must not participate in the formation of a part

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permitting greater deviation from the default rules in the basic corporate form (e.g.,
through restrictions on share ownership or transfer), or by developing a separate and
more adaptable form for close corporations. N

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of assurance that the provision will not become anachronistic. If, in contrast, the firm
puts in its charter a specially-drafted provision in place of the statutory default, only
the firm itself can amend the provision

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venture can conveniently be pledged as security just to the creditors who deal with
that venture. 27 Those creditors are commonly well positioned to assess and keep track
of the value of those assets, but may have litt

Allocate income to partners. There are two problems on this page.
Problem 1:
Partnership Facts:
1. Mary and Bob are both general partners of a partnership.
2. Mary invested $225,000 in the partnership.
3. Bob invested $150,000 in the partnership.
4. Incom

Mohammed alhamad & Demarcus Richardson
Case study
Presentation of the facts surrounding the case (situation analysis)
The case study in discussion presents a hospitality company that tries to employ current
marketing strategies in its quest to heighten sa

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as investor-oriented disclosure rules, designed to reassure investors and hence make it
less costly for firms to raise capital within that pattern of ownership. 100
Both the distributional effect and the efficiency eff

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parties to reveal their private informationso that they can avoid the default
outcomeand consequently induce explicit bargaining between the parties that will
lead to an outcome superior to that which would otherwise b

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1 What is Corporate Law?
2009 JOHN ARMOUR, HENRY HANSMANN, and
REINIER KRAAKMAN
1.1 INTRODUCTION
What is the common structure of the law of business corporationsor, as it would be
put in some jurisdictions, company la